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Jersey Hopes To Ensure EU Code Of Conduct 'All Clear'

by Jason Gorringe, Lowtax.net, London
27 November, 2017

Jersey's Chief Minister, Ian Gorst, held a number of meetings in Brussels on November 22-23 to emphasize the territory's cooperative attitude on tax matters and its compliance with international standards.

Gorst and Gavin St Pier, Chief Minister of Guernsey, held a series of meetings with representatives from the European Commission, members of the European Parliament, and ambassadors (permanent representatives) of several EU member states.

Gorst said: "I am glad of the opportunity to return to Brussels, at a time when there are a number of important matters under consideration. As well as the ongoing Brexit negotiations, the EU Code of Conduct Group will shortly be considering the outcome of their assessment of 90 non-EU jurisdictions on tax cooperation."

He added: "I want to reiterate during this visit that Jersey has cooperated fully with the screening process. We are, therefore, committed to working closely with the Code Group in future to address any concerns and ensure Jersey continues to be viewed in this way."

Gorst emphasized that Jersey has a "positive story" to tell on matters of tax transparency, including its decision to join the OECD's Base Erosion and Profit Shifting (BEPS) Inclusive Framework, which commits the territory to implement BEPS minimum standards (such as those on country-by-country reporting) and participate in future policymaking and peer reviews.

He concluded: "I fully appreciate the importance of ongoing dialogue with the EU. I want to use this visit to listen to what our European colleagues have to say, and to reaffirm Jersey's position as a cooperative jurisdiction and good neighbor. We expect companies to pay the tax that is due in the jurisdictions where it is owed."

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